Cyviz AS - Q2 2024: Strong Order Intake, EBITDA Below Expectations

29 Aug 2024 07:56 CEST

29.8.2024 07:56:54 CEST | Cyviz | Half yearly financial reports and audit
reports / limited reviews

Cyviz AS today announces its financial results for the second quarter of 2024.

The company reported an EBITDA of NOK 2.2 million in Q2, a decline of NOK 9.4
million compared to Q2 2023.

This decline was mainly due to delays in a significant Saudi Arabia deal and
part of the expected Microsoft contracts, which came in Q3.

Despite the decline, Cyviz saw a strong order intake of NOK 155.7 million, a
27.1% increase from Q2 2023, reflecting an ongoing business strength.

Revenue for the quarter was NOK 139.1 million, down 12.9% compared to Q2 2023,
with gross profit at NOK 69 million, an 11% decline. Operating cash flow was NOK
-0.5 million, compared to NOK 8.1 million in Q2 2023. These results are expected
to improve in Q3 as deferred deals are realized.

"Our Q2 performance was mixed, but the strong order intake and positive U.S.
market trends support our outlook for the rest of 2024. Our new software
platform which we finalized in Q2 is ready for launch in September, and this is
central to our shift towards a subscription-based model. Despite the challenges
we faced in Q2, I'm confident that we are well-positioned for a strong second
half of 2024", says Espen Gylvik, CEO of Cyviz.

Cyviz' medium-term target of a 15-20% EBITDA margin remains unchanged.

Cyviz AS presents its results for the second quarter of 2024 today, Thursday,
August 29th, at 09:00 (CET), inviting investors, analysts, and other interested
parties to a live webcast.

Webcast link: https://channel.royalcast.com/landingpage/hegnarmedia/20240829_9/

The report, presentation, and link to the recording of the webcast are available
at: https://www.cyviz.com/investor-relations/

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

CONTACTS

* Espen Gylvik, CEO, Cyviz AS, +4791330644, espen.gylvik@cyviz.com
* Karl Peter Gombrii, CFO, Cyviz, (+47) 92822969, karl.gombrii@cyviz.com

ABOUT CYVIZ

About Cyviz

Cyviz is a global technology provider for comprehensive conference and control
rooms as well as command and experience centers. Since 1998, we have created
next level collaboration spaces, assuring inclusive meeting experiences for in
person and remote attendance.

Cyviz serves global enterprises and governments with the highest requirements
for usability, security, decision making and quality. The cross-platform
experience Cyviz delivers to manage and control systems and resources across the
enterprise, makes Cyviz the preferred choice for customers with complex needs.

Find out more on www.cyviz.com - http://www.cyviz.com or visit one of our Cyviz
Experience Centers in Atlanta, Benelux, Dubai, Houston, Jakarta, London, Oslo,
Riyadh, Singapore, Stavanger, or Washington DC.

Cyviz is listed on Euronext Growth at the Oslo Stock Exchange (ticker: CYVIZ).

ATTACHMENTS

Cyviz_Q2_2024_Presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17847582/18217639/4912/Cyviz_Q2_2024_Prese
ntation.pdf

Cyviz Q2 2024 Report.pdf -
https://kommunikasjon.ntb.no/ir-files/17847582/18217639/4913/Cyviz%20Q2%202024%2
0Report.pdf

More information:
Access the news on Oslo Bors NewsWeb site

626510_Cyviz_Q2_2024_Presentation.pdf
626510_Cyviz Q2 2024 Report.pdf